diff --git a/etc/eth-contracts/package.json b/etc/eth-contracts/package.json
index f0fb06ed2..e9a62b4ed 100644
--- a/etc/eth-contracts/package.json
+++ b/etc/eth-contracts/package.json
@@ -3,7 +3,7 @@
   "version": "0.1.0",
   "description": "ERC20 token implementation on EVM mapped from Native NEP-141",
   "dependencies": {
-    "@openzeppelin/contracts": "^4.1.0"
+    "@openzeppelin/contracts": "^4.3.1"
   },
   "devDependencies": {
     "@nomiclabs/hardhat-ethers": "^2.0.1",
diff --git a/etc/eth-contracts/yarn.lock b/etc/eth-contracts/yarn.lock
index 7053fda07..4e778ff11 100644
--- a/etc/eth-contracts/yarn.lock
+++ b/etc/eth-contracts/yarn.lock
@@ -903,10 +903,10 @@
     "@types/sinon-chai" "^3.2.3"
     "@types/web3" "1.0.19"
 
-"@openzeppelin/contracts@^4.1.0":
-  version "4.1.0"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.1.0.tgz#baec89a7f5f73e3d8ea582a78f1980134b605375"
-  integrity sha512-TihZitscnaHNcZgXGj9zDLDyCqjziytB4tMCwXq0XimfWkAjBYyk5/pOsDbbwcavhlc79HhpTEpQcrMnPVa1mw==
+"@openzeppelin/contracts@^4.3.1":
+  version "4.3.1"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.3.1.tgz#c01f791ce6c9d3989ac1a643267501dbe336b9e3"
+  integrity sha512-QjgbPPlmDK2clK1hzjw2ROfY8KA5q+PfhDUUxZFEBCZP9fi6d5FuNoh/Uq0oCTMEKPmue69vhX2jcl0N/tFKGw==
 
 "@resolver-engine/core@^0.3.3":
   version "0.3.3"